March 04, 2004
The Market Notices

The insurance market seems to have noticed global climate change, according to this story:


The world's second-largest reinsurer, Swiss Re, warned on Wednesday that the costs of natural disasters, aggravated by global warming, threatened to spiral out of control, forcing the human race into a catastrophe of its own making.

In a report revealing how climate change is rising on the corporate agenda, Swiss Re said the economic costs of such disasters threatened to double to $150 billion a year in 10 years, hitting insurers with $30-40 billion in claims, or the equivalent of one World Trade Center attack annually.


(Thanks to Greg Mello for pointing this out.)

Posted by John Fleck at March 04, 2004 07:24 PM
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